Pimco New York Municipal Income Fund III V.PYN

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PIMCO New York Municipal Income Fund III (the Fund) is a non-diversified closed-end management investment company. The Fund's primary investment objective is to seek to provide current income exempt from federal and California income tax. Under normal circumstances, the Fund invests at least 90% of its net assets in municipal bonds which pay interest that is exempt from regular federal, New York State and New York City income. The Fund may invest up to 20% of its total assets in investments the interest from which is subject to the federal alternative minimum tax. The Fund also invests at least 80% of its net assets in municipal bonds that at the time of investment are investment grade quality. Pacific Investment Management Company LLC (PIMCO) serves as the Fund's investment manager.

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Post by bigpocketsincon Jul 28, 2012 7:23pm

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Post# 20162526

CYL Has Cnx with China Mobile

Google Void Seen as Opportunity for China Mobile App Store: Tech

By Bloomberg News - May 23, 2012 4:40 AM PT

Google Inc. (GOOG)’s Android operating system runs two-thirds of the smartphones sold in China yet the company’s online app store, Google Play, isn’t open for business there because of censorship concerns. That’s creating an opportunity for China Mobile Ltd. (941)

The world’s biggest phone company by subscribers opened its Mobile Market store for Android apps in 2009, and it now has 158 million registered users. Customers have downloaded more than 630 million apps, making Mobile Market the world’s largest carrier-operated app store, said Jack Kent of IHS Screen Digest.

Enlarge image

China Mobile Ltd.'s app store is displayed on a computer in Beijing, China, on Tuesday, May 15, 2012. China Mobile, the world's biggest phone company by subscribers, opened its Mobile Market store for Android apps in 2009, and it now has 158 million registered users. Photographer: Nelson Ching/Bloomberg

The success of Mobile Market comes at a welcome juncture for the wireless giant, fueling revenue growth as its core business matures. China Mobile competes with Apple Inc. (AAPL)’s App Store in a nation where Analysys International said mobile applications and services are set to jump 80 percent to 220 billion yuan ($35 billion) this year as cheaper smartphones make surfing the Web more affordable.

“Without having to compete with the official Google store, China Mobile has an opportunity that operators in other countries don’t have,” said Kent, a London-based analyst. “China Mobile’s relationship with subscribers leaves it well- placed to take advantage.”

The carrier’s data services business, including Mobile Market, jumped 15 percent last year to 139.3 billion yuan, compared with an 8.8 percent growth in total sales.

Facebook, Twitter

China Mobile shares fell 0.8 percent to HK$81.90 in Hong Kong trading today, trimming the gains this year to 7.9 percent.

Shipments of smartphones in China are projected to jump 52 percent this year to 137 million units, overtaking the U.S. for the first time as the world’s biggest market, according to a March estimate from market researcher IDC.

Phones running Android accounted for 68 percent of sales in the fourth quarter, while Apple’s iPhone made up 5.7 percent, according to Beijing-based Analysys International. Apple’s online store generated about $2.9 billion in global app sales last year, compared with about $618 million for Google, Kent estimated.

“The reason we care about this business is that it can help drive or promote our other businesses,” China Mobile’s Chief Executive Officer Li Yue said in a May 16 interview. “If a developer makes a very good app, then it will help boost traffic on our network and help our growth that way.”

All Web content in China is censored, and that control extends to online stores selling apps, games and e-books. Both Mobile Market and Apple’s Chinese-language store, which takes payment in local currency, abide by government censorship restrictions and don’t offer apps to access the blocked websites of Facebook Inc., Twitter Inc. and YouTube Inc.

Google Censorship

Google said in January 2010 it was no longer willing to self-censor content for Chinese services, so it shuttered its local search page and redirected users to a Hong Kong site. Taj Meadows, a Tokyo-based spokesman for Google, declined to comment on why Google Play was unavailable in China. The store has more than 450,000 apps and games, the company said in March.

China Mobile’s store has 68,663 apps, compared with 560,957 for Apple, said Sun Peilin, a researcher at Analysys International. Mobile Market’s offerings include Instagram Inc.’s photo-sharing and editing software, and Rovio Entertainment Oy’s Angry Birds, Angry Birds Seasons and Angry Birds Space.

China Mobile’s sales from applications and information services grew 12 percent to 48.4 billion yuan last year, accounting for 9.2 percent of total sales and overtaking text messages as the company’s biggest source of data revenue.

Drive Traffic

That total includes 22 billion yuan from mobile music, 1.5 billion yuan from mobile e-mail services, 627 million yuan from e-books and 571 million yuan from mobile videos, according to the company’s annual report.

Mobile Market has become the world’s largest Chinese- language application software platform, Li said.

Sales from the Mobile Market last year were about 23 million yuan, though the traffic generated by app downloads among China Mobile’s 667.2 million mobile-phone subscribers is more important to the carrier, Li said.

China Mobile is forecast to post its third straight year of sales growth after reporting revenue gains of at least 10 percent from the time of its 1997 Hong Kong listing through 2009. Sales growth may slow to 7 percent this year, according to the average of 31 analyst estimates compiled by Bloomberg.

Unicom, Telecom

China Mobile isn’t the only local company looking to fill the Google gap for Android apps. Analysys International tracks 13 major app stores in China, including from carriers China Unicom (Hong Kong) Ltd. (762) and China Telecom Corp. (728), and device makers including Lenovo Group Ltd. (992)

“We see a lot of competition in the app store space in China,” said Lisa Soh, a Hong Kong-based analyst with Macquarie Group Ltd. “The competition in app platforms is likely to mean it will be more difficult to monetize.”

One thing that may help China Mobile generate sales is that it offers the highest percentage of paid apps versus free apps among all stores in China, Sun said. Mobile Market charges for 91 percent of its apps, while China Unicom charges for 77 percent and Apple’s for 48 percent.

Many games in China Mobile’s shop are offered in local currency prices that range from the equivalent of 50 cents to $1.50.

“A couple of years ago, everyone began to realize how huge Apple’s App store was becoming and wanted into that market,” said Neil Juggins, a Hong Kong-based analyst at JI Asia Research Ltd.

To contact Bloomberg News staff for this story: Edmond Lococo in Beijing at elococo@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net

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Table of high-ranking websites blocked in China

Alexa Rank	Domain	Website	URL	Category	Primary language	Blocked since
1	google.com	Google Docs	docs.google.com	Sharing	English	2011, May (or earlier)[2]
1	google.com	Google Drive	drive.google.com	Sharing	English	2012, May[3]
1	google.com	Google Encrypted	encrypted.google.com	Search	English	2011, March (or earlier)[4]
1	google.com	Google Plus	plus.google.com	Social	English	2011, July[5]
1	google.com	Google Sites	sites.google.com	Web Hosting	English	2011, March (or earlier)[6]
1	google.com	Picasa	picasaweb.google.com	Sharing	English	2009, July[7]
2	facebook.com	Facebook	www.facebook.com	Social	English	2008, July[8]
3	youtube.com	YouTube	www.youtube.com	Sharing	English	2009, March[9][10][11][12]
4	yahoo.com	Yahoo! Taiwan	tw.yahoo.com	Portal	Chinese	2011, May (or before)[13]
4	yahoo.com	Yahoo! Hong Kong	hk.yahoo.com	Portal	Chinese	2011, March (or before)[14]
6	wikipedia.org	Mobile Wikipedia	mobile.wikipedia.org	Other	English	2011, May (or earlier)[15]
8	twitter.com	Twitter	twitter.com	Social	English	2009, June[10][16][17]
11	blogspot.com	Blogspot	blogspot.com	Blog	English	2009, May[10][11][18]
18	wordpress.com	Wordpress	wordpress.com	Blog	English	2011, October[19]
20	t.co	T.co	t.co	Other	English	2011, May (or earlier)[20]
47	imdb.com	Internet Movie Database	www.imdb.com	Other	English	2011, February (or earlier)[21]
51	xvideos.com	XVideos	www.xvideos.com	Adult	English	2011, March (or earlier)[22]
52	fc2.com	FC2	www.fc2.com	Blog	Japanese	2011, March (or earlier)[23]
54	xhamster.com	xhamster	www.xhamster.com	Adult	English	2011, March (or earlier)[24]
71	thepiratebay.se	The Pirate Bay	thepiratebay.se	Sharing	English	2012, February (or earlier)[25]
112	vimeo.com	Vimeo	www.vimeo.com	Sharing	English	2009, October[26]
219	nicovideo.jp	Nico Video	nicovideo.jp	Sharing	Japanese	Unknown
223	archive.org	Archive.org	www.archive.org	Other	English	2011, April (or earlier)[27]
225	scribd.com	Scribd	scribd.com	Sharing	English	2011, February (or earlier)[28]
227	isohunt.com	isoHunt	isohunt.com	Sharing	English	2012, April; previously blocked and unblocked[29]
257	xing.com	Xing.com	www.xing.com	Social	German	2011, April (or earlier)[30]
277	hardsextube.com	hardsextube	www.hardsextube.com	Adult	English	2011, April[31]
282	drtuber.com	drtuber	www.drtuber.com	Adult	English	2011, April[32]
429	wretch.cc	Wretch	www.wretch.cc	Blog	Chinese	2007, August[33]
553	appspot.com	Google Appspot	appspot.com	Web Hosting	English	Unknown
610	ustream.tv	Ustream.tv	www.ustream.tv	Sharing	English	2011, April (or earlier)[34]
713	geocities.jp	geocities.jp	geocities.jp	Web Hosting	Japanese	Unknown
1321	technorati.com	Technorati	www.technorati.com	News	English	2008, July[35]
2056	plurk.com	Plurk	www.plurk.com	Social	English	2009, April[36]
2925	nrk.no	Norwegian Broadcasting Corporation	www.nrk.no	News	Norwegian	2011, May (or earlier)[37]
3876	pbworks.com	PBworks	pbworks.com	Sharing	English	2011, January[38]
10275	boxun.com	Boxun	boxun.com	News	Chinese	2011, May (or earlier)[39]
20898	wikileaks.org	Wikileaks	wikileaks.org	NGO	English	2011, May (or earlier)[40]
24693	openvpn.net	OpenVPN	www.openvpn.net	Privacy	English	2011, June (or earlier)[41]
33553	strongvpn.com	Strong VPN	www.strongvpn.com	Privacy	English	2011, June[42]
33961	amnesty.org	Amnesty International	amnesty.org	NGO	English	2011, May (or earlier)[43]
71304	rsf.org	Reporters Without Borders	www.rsf.org	NGO	English	2011, April (or earlier)[44]
78873	falundafa.org	Falun Dafa	www.falundafa.org	Religious	English	2011, February (or earlier)[45]